diff --git a/versions.yaml b/versions.yaml
index e3110385da..1e5168b32b 100644
--- a/versions.yaml
+++ b/versions.yaml
@@ -316,8 +316,8 @@ externals:
   td-shim:
     description: "Confidential Containers Shim Firmware"
     url: "https://github.com/confidential-containers/td-shim"
-    version: "v0.2.0"
-    toolchain: "nightly-2022-05-15"
+    version: "v0.3.0"
+    toolchain: "nightly-2022-11-15"
 
   virtiofsd:
     description: "vhost-user virtio-fs device backend written in Rust"